The impact of macroeconomic factors on crypto and Bitcoin is increasing as inflation gets stronger. Both the crypto and the traditional market are facing a raging storm. Many international bodies fear that a possible global recession will soon break out. Another round of volatility has commenced in the crypto market. The cause is the US Consumer Price Index (CPI) report. The data is at 8.2% for the September record. Related Reading: Elrond (EGLD) Price May Break Past $56 Hurdle – Here’s How The United States CPI data serves as a gauge for measuring the inflation rate in the country. It records the average price change consumers pay for goods and services over time. Core US Inflation Reaches 40 Year High A measure of the US CPI revealed that inflation exceeded many people’s expectations. The September record indicated the value had reached a 40-year high. The Labor Department gave further details on the report on Thursday, September 13. The core consumer price index, which excludes food and energy, surged by 6.6% over the past year. This value is the peak mark since 1982. In addition, it noted that from the earlier month, the core CPI increased by 0.6% for the following month. Hence, the overall CPI surged by 0.4% in September to hit the high value of 8.2% year-to-year. Recall that in August, the CPI data rose to 8.3%. In June, the annual CPI peaked at 9.1%, the highest value since November 1981. The latest CPI data is in...
